Alex Lopez believes that every leader in the real estate field can and should add a new service to their roster of offerings: title transfers. In the New Door Property Transfer CEO’s eyes, every property firm already owns a title company – they just aren’t getting paid for it.
The real estate and title transfer mastermind has made his name in the business by empowering his fellow real estate entrepreneurs.
“There’s nothing more satisfying than knowing I was able to take a broker-owner that wasn’t making extra income on that ancillary service or wasn’t getting transparency with their current title provider and seeing them open up a partnership,” he said.
Lopez founded New Door Property Transfer in 2019 to deliver seamless home and property title transfers — as well as a full range of closing services for buyers, investors, and lenders. However, he quickly noticed a gap in the market. He encountered dozens of passionate and skilled real estate professionals and firms – but he noticed that the title transfer companies they used for each sale were falling short. Some companies didn’t provide thorough services, others didn’t meet deadlines, and a number of them were not transparent about protocols and policies.
So, he aimed to empower the real estate professionals around him to complete their own title transfers. He devised a 100% RESPA-compliant program, got backing from national underwriters with favorable splits, and began providing a step-by-step program that would allow any real estate professional to also offer the services of a title company.
“I own a real estate company and understand that when you do a joint venture with a local title company, you don’t really get a fair shake,” he said. “And that‘s really why I started New Door.”
More services, more work?
Some agents and owners might be out there reading this and thinking, ‘I don’t want to do more work.’ But Lopez doesn’t see it that way. He sees it as a turn-key opportunity to keep your partnership with your clients direct and transparent from the first property visit to the final closing paperwork.
“You can rest assured knowing your consumers are having a great experience when they close on their property,” stated Lopez. “Your agents will have the communication they need from the title provider to make sure they’re understanding every single part of the process so they can get their clients to the closing table without any headaches.”
If you’ve ever bought or sold a property, you’ll realize what a rare blessing it is to have a stress-free, surprise-free closing.
Becoming an Owner
Lopez outlined the three main steps for real estate professionals that want to take the leap with him and become title company owners. First, they should reach out to the experts at New Door to find out how they can realize their new title company. Next, they will learn about how to own and operate their own title company. And, lastly, they receive a turnkey-ready title company in partnership with New Door.
The benefits for owners are multiple. The first is financial; if instead of helping a title company make $1,000s per transaction, you can make that money as profit, that’s a huge win.The second is related to retention: great real estate agents know that dealing with title companies is one of their regular hassles. However, when the service is in-house, it takes a significant stressor off of agents, making them more likely to continue working for your firm — and recommending your company to new agents.
Since coming up with his title company business model, Lopez has graduated numerous real estate professionals. Today, he’s partnering with large real estate firms including Re/Max, Florida Property Brokers, Realty World, and Homeway Real Estate. Among the reasons they give for wanting to make the step into title company ownership are: to provide better service to their clients and agents, to be able to go through the entire process with their clients, to ensure the accuracy of all title transfers, and to offer a transparent experience from start to finish.
The CEO receives regular praise for his teaching and services. Clients recommend him as a “seasoned professional” and someone that can handle any curveball that a property closing can throw his way. He is also lauded for his ability to explain complicated transactions in easy-to-understand ways, a skill that has long been lacking in the property transfer field.
About Alex Lopez:
New Door Property Transfer provides smooth home property title transfers and closing services for consumers, lenders, and investors. The company was founded in 2019 by Alex Lopez, CEO of Homeway Real Estate. For more information please visit https://www.newdoorpt.com/.
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